All Forum Posts by: Jonathan Kennedy

New guy here, hoping someone has good advice for me:

I have a guy who wants to sell his mobile home, land included, in Holly Lake Mobile Home Park in Pembroke Pines, Florida. He is asking $20k cash. Based on MLS comps, other mobile homes in the park have been selling, on average, for around $40k or $45k in the past 6 months. The lowest was $25k (needed a new floor), and on the high end there were a couple in the 6 figure range. Many of these comps were for homes dated around 1980, which is similar to the one I'm looking at. All comps were closed sales, not active, and some closed in less than 30 days.

I'm going to look at the home today, at which point I'll determine what sort of shape it's in and the make and model. If it's in decent shape, I'm considering taking the guy up on his offer (but going in low, around $15k or $16k), and then listing the property as a Realtor to see if I can get at least $30k or $35k. Unfortunately, I really have very little experience with mobile homes, and I'm wary of getting myself into something I don't completely understand. What should I be looking out for here? Does anyone have experience buying and selling in Holly Lake Mobile Home Park?

Thanks in advance,

Jonathan

All - thanks again for the warm welcome. Really enjoying the site so far. So many great ideas I've been reading about.

Another South Florida member here, mostly working in wholesaling. I'd love to participate in a meetup.

Thanks for the warm welcome. Just set up my keyword alerts @Brandon Turner.

Greetings everyone,

My name is Jonathan Kennedy, and I'm just getting started in the Fort Lauderdale/Miami area. Before I arrived here I spent 5 years in Washington, DC, getting a Master's degree and working for a few years in the think tank community.

My brother, Chris, has been working in real estate in South Florida in one way or another since 2008. After a few months of introspection and some minor prodding, I decided to drop what I was doing in DC and start fresh in real estate. So far, so good - I'm working as a Realtor at Weichert Realtors Best Beach Real Estate and my brother and I have recently launched a wholesaling business, but I'll save the details for the marketplace forum!

I've picked up lots of great advice from the forums and podcasts here at Bigger Pockets, and I'm looking forward to learning more and taking a more active role in the community.

Cheers!

Jonathan